Dropbox (NASDAQ:DBX) Issues Quarterly Earnings Results

Dropbox (NASDAQ:DBX) announced its earnings results on Thursday. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.11), Zacks reports. Dropbox had a negative return on equity of 135.85% and a net margin of 22.71%.

Dropbox Stock Down 2.4 %

DBX traded down $0.79 on Thursday, reaching $31.88. The company’s stock had a trading volume of 6,640,737 shares, compared to its average volume of 2,931,267. The stock has a 50 day moving average of $31.03 and a two-hundred day moving average of $27.48. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 1.77 and a beta of 0.61. Dropbox has a fifty-two week low of $20.68 and a fifty-two week high of $33.33.

Insider Activity at Dropbox

In other news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $32.19, for a total transaction of $80,475.00. Following the transaction, the chief financial officer now directly owns 396,264 shares in the company, valued at approximately $12,755,738.16. This trade represents a 0.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Houston sold 132,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $28.12, for a total transaction of $3,711,840.00. Following the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $232,458,647.92. This trade represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 900,238 shares of company stock valued at $26,680,195 over the last three months. 28.59% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group lifted their price target on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, January 6th.

Dropbox Company Profile

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.